NOCC orders dual-fuel PCTC pair

The first of the 7,000 car equivalent unit (ceu) newbuildings will be delivered in 2025, with the second vessel following in 2026. The 

The newbuildings are designed initially to run on LNG, which can reduce emissions by around 25% compared with other fossil fuels, but will be designed with the ability to convert to use ammonia as a fuel once the fuel becomes commercially available. The vessels will receive ammonia-ready notations from classification society DNV.

The order is interesting as NOCC is owned by JP Morgan Global Maritime Investment Fund. JP Morgan Global Alternative’s Global Transportation Group identified uncertainty about clean fuel options and the threat of technological obsolescence for older assets as risks in its January 2024 Global Transportation Outlook.